Preferential capital helps Chi Dao people overcome difficulties

(HBĐT) - With preferential loans from the Vietnam Bank for Social Policies, many households in Chi Dao commune (Lac Son) have overcome difficulties, found suitable directions for economic development, and aimed at getting rich on their homeland.

The family of Mr. Bui Van Chien, Ong Man hamlet, Chi Dao commune (Lac Son) uses policy capital to fatten cows, bringing about quite good economic efficiency.

Chi Dao is a remote commune with many difficulties, the main income of the people comes from farming and raising livestock and poultry. In recent years, the people's lives have improved a lot, especially thanks to the Doi tree, which has helped many households become rich. In addition, since accessing preferential capital from the Vietnam Bank for Social Policies, it has supported the work of hunger eradication, poverty reduction and new rural construction in the commune.

Like many other households, the economy of Mr. Bui Van Chien's family in Ong Man hamlet previously faced many difficulties due to lack of capital. However, nearly ten years ago, Mr. Chien's family's economy changed when he borrowed 20 million VND from the near-poor household lending program of the Vietnam Bank for Social Policies. With capital, Mr. Chien started his "business" by investing in cattle farming. With available food sources, cattle farming is quite suitable, so the family's economy has changed a lot. After escaping the near-poor household status, in 2021, Mr. Chien's family continued to borrow 50 million VND from the production and business household lending program in difficult areas of the Vietnam Bank for Social Policies. From this source of capital combined with the family's savings, Mr. Chien bought 6 more cows to fatten.

Mr. Chien said: From the previous loan, the family was able to buy cows to raise. Later, the cows reproduced well, so the family spent half of the money from selling the cows to pay off the bank debt. With the remaining half, plus the loan of 50 million VND, the family continued to invest in buying breeding cows to raise and fatten. Up to now, although the price of cows has decreased compared to before, after deducting expenses, each cow after about 1 year of raising has brought in a profit of more than 10 million VND. Currently, the family is raising 8 fattened cows, combined with farming and trading, so the economy has stabilized. For people in areas with many difficulties, preferential loans from the Vietnam Bank for Social Policies are very important for economic development and escaping poverty.

Along with Mr. Chien's family, Ms. Bui Thi Hoai's family is also a typical household in Ong Man hamlet that has overcome difficulties thanks to the effective use of policy capital. Eight years ago, Ms. Hoa's family was classified as a poor household and was able to borrow 20 million VND from the VBSP to develop the economy. According to Ms. Hoa, realizing that the locality had favorable conditions for livestock farming, the family invested in raising beef cattle. To date, Ms. Hoai's family has escaped poverty and is currently borrowing 40 million VND from the VBSP's production and business loan program to continue raising fattened cattle. "My family maintains fattening 4 beef cows/batch, with a raising cycle of 1 - 1.5 years, earning more than 50 million VND. In addition, the family raises chickens, pigs and grows crops, so we have a more stable income. To achieve what we have today, the loan capital from the Vietnam Bank for Social Policies plays a very important role. We hope to continue to be facilitated with loans to expand livestock farming, bringing higher economic efficiency," Ms. Hoai shared.

In addition to Mr. Chien and Ms. Hoai's families, in Chi Dao commune, there are over 440 households that have been using policy capital to develop the economy. Comrade Quach Cong Thai, Chairman of the People's Committee of Chi Dao commune, said: In recent years, loans from the VBSP have played a very important role in the local hunger eradication and poverty reduction effort. Up to now, the total outstanding policy credit has reached over 14 billion VND. However, the poverty rate in the commune remains high, and the people's demand for loans is still very large. Therefore, the commune hopes that the VBSP will continue to prioritize capital and increase the loan amount so that the poor and policy beneficiaries have more capital to develop the economy, increase income, and improve the quality of life.

Written by Dao

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